Depending on your location, age, credit, and many other factors, homeowner’ s insurance can be a huge financial burden. By understanding how homeowners insurance works, you will learn how to see the most benefit out of your policy.
If your house is rained on heavily and you discover water damage in the basement, then tell your insurance agent immediately. Never wait to file a claim. Most insurance companies will only allow a 14-day window to report a problem.
Keeping a record of all the problems you experience with your house is a good way to prevent being taken advantage of by your insurance agent. Many people get denied claims because they fail to produce receipts and other important documents that prove the insurer is responsible for fixing the problem.
Another good way to stay on top of your policy is by periodically videotaping everything in your house. While homeowner’s insurance will cover all the physical property, it will not cover all personal belongings. If you lose a valuable painting in a fire, the insurer may not reimburse you for it. After all, how can you prove the painting was ever in the house in the first place? Keeping a video log of important items will come in handy if you lose them in an unexpected incident.